I am need of leasehold conveyancing for an apartment in a fairly new development (five years old) in Canonbury. Almost all the flats are already disposed of. Is it strictly necessary to order local searches as part of conveyancing in Canonbury?
If you getting a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Canonbury conveyancing searches are for you to decide upon. No doubt your conveyancer, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you insist that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to swap to another solicitor for your conveyancing in Canonbury.
Can your site be used to find a Conveyancing solicitor in Canonbury even where I’m not purchasing or selling a house, for example if I intend to acquire an office in Canonbury with a mortgage from Skipton Building Society?
Our search tool is predominantly utilised to find residential conveyancing solicitors in Canonbury but we have set out towards the bottom of this page a selection of Canonbury commercial conveyancing firms. You will need to make contact with the firm directly to establish if they can also act for Skipton Building Society
I'm the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Canonbury. The Canonbury property was put into my name in December. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in December. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many banks would take a practical view as this obligation principally exists to identify the purchase and immediately sell or the quick reselling of properties.
We have agreed to purchase a house in Canonbury. A rare aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Co-operative your lawyer must follow the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Canonbury.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Canonbury solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Canonbury postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Canonbury.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Canonbury is where the house is located. Is there any guidance you can impart?
Flying freeholds in Canonbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Canonbury you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canonbury may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Taking into account that I will soon spend hundreds of thousands of pounds on a garden flat in Canonbury I wish to talk to a lawyer concerning thehouse move before appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your property ownership legalities in Canonbury.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Canonbury should be the amount on the final invoice that you are charged.
I am looking at a two flats in Canonbury both have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Canonbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Canonbury conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Canonbury property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 80.5 years.